Top cryptocurrency prices today: Bitcoin, Ethereum, Polkadot shed up to 11%

New Delhi: The cryptocurrency cart was bleeding on Tuesday amidst volatility in the market. Traders booked profits in digital tokens amid buzz related to tightening of regulations on cryptocurrencies in global markets.

Barring the two dollar-pegged stablecoins, all other eight out of the top 10 cryptocurrencies were trading lower at 9.30 hours IST. Polkadot tanked 11 per cent, whereas Bitcoin and Etheremum shed up to 8 per cent each.

The global crypto market cap declined about 7 per cent to $2.66 trillion mark as compared to the last day. However, the total crypto market volume zoomed more than 33 per cent to $116.56 billion.



Bitcoin has been volatile in the last couple of days. A healthy bid last night from Asia-based participants sent the token higher. Ethereum faced similar price action, but outperformed Bitcoin, said Zebpay Trade Desk.

“However, over the past 24 hours both these assets have seen a correction. We have also witnessed some profit booking that took place when the short lived rally set in over the weekend, leading to a sell-off, which might have turned the tide,” it added.

Tech View by Giottus Cryptocurrency Exchange
VeChain (VET) is a blockchain-powered platform for supply chains with an objective to improve their efficiency, transparency and traceability. By leveraging blockchains, VET delivers assured authenticity and quality of products for consumers and companies.

VET has performed admirably well in recent months. It rose from $0.08 to $0.187, in an upward moving channel. It then entered a consolidation phase that soon turned into a correction due to bearish Bitcoin (BTC) price action. It currently trades at $0.155 – between the .236 and .382 fibonacci retracements, with support available at $0.146 and $0.134.

With BTC expected to bounce from support at the $61,600 range, altcoins are expected to regain strength. However, in the event that more downside occurs, VET should bounce strongly at $0.121 – the .618 fibonacci retracement.

On the upside, it is likely to find resistance at $0.168 and $0.173 – these being retracements based on a pull from its November top to bottom, also coinciding with the middle of the parallel channel.

Major Levels
Support: $0.146, $0.134

Resistance: $0.168, $0.173

(Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)